ACCT 340: Integrated Project Assignment (50 points)
Due March 10, 2018 at 11:59pm via BlackBoard
Read the background information on Vine & Branches provided below, and then complete the following:
Assume that you are the Accounts Payable clerk for Vine & Branches, and your job is to keep track of the bills and write checks for all 3 of the companies. One day during 2017, your boss (John Peters) approaches you, carrying an invoice issued to Sunflower Designs for materials purchased. John says, “Let’s pay this one out of Walnut Grove instead of Sunflower Designs. We’re running a bit low on cash in the Sunflower account, and Walnut Grove has plenty. We could use the tax write-off for Walnut Grove anyway.”
Discuss how you would respond to his request.
From the given question we can say that the company have 2 different branches one related to sunflower design and other walnut grove. The invoice of sunflower design for material purchased has come and the boss wants to adjusted it with the cash available with walnut grove. Since the cash available with sunflower design is low and its difficult to make invoice payments. As an accounts clerk I will agree with the boss but will make and entry of cash transfer by walnut grove to sunflower design. which will lead to cash availability with sunflower design and now the invoice payment can be made by the sunflower design with their account. Anyhow the company cannot ask for write-off for walnut grove since its not the expense of walnut grove and the cash is transfered to sunflower design accounts for with the company can return to walnut grove in future. So the adjustment can be made in the form of cash transfer from one branch to another but can't ask for a write off for walnut grove.
ACCT 340: Integrated Project Assignment (50 points) Due March 10, 2018 at 11:59pm via BlackBoard ...